Alpha and Omega Semiconductor Limited $AOSL Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Alpha and Omega Semiconductor stake by 42.3% in the first quarter, selling 93,607 shares and retaining 127,692 shares worth approximately $2.83 million. Institutional investors collectively own 78.97% of the company.
• Alpha and Omega Semiconductor reported a quarterly loss of $0.13 per share, beating estimates for a $0.24 loss, while revenue of $170.37 million exceeded expectations but declined 3.5% year over year. The company remains unprofitable, with analysts forecasting a full-year loss of $1.70 per share.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $41.50 price target. Recent targets range from $34 to $58, while the shares opened at $24.66 and insiders own 16.70% of the stock.

Bank of America Corp DE lowered its holdings in Alpha and Omega Semiconductor Limited (NASDAQ:AOSL - Free Report) by 42.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 127,692 shares of the semiconductor company's stock after selling 93,607 shares during the quarter. Bank of America Corp DE owned about 0.43% of Alpha and Omega Semiconductor worth $2,830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in Alpha and Omega Semiconductor by 21.6% in the 4th quarter. State Street Corp now owns 1,474,175 shares of the semiconductor company's stock valued at $29,203,000 after acquiring an additional 262,117 shares during the last quarter. Millennium Management LLC raised its position in Alpha and Omega Semiconductor by 57.5% during the third quarter. Millennium Management LLC now owns 637,876 shares of the semiconductor company's stock worth $17,835,000 after acquiring an additional 232,817 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Alpha and Omega Semiconductor by 12.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,411,400 shares of the semiconductor company's stock worth $36,217,000 after acquiring an additional 158,869 shares during the last quarter. UBS Group AG lifted its holdings in shares of Alpha and Omega Semiconductor by 224.7% in the fourth quarter. UBS Group AG now owns 217,121 shares of the semiconductor company's stock valued at $4,301,000 after purchasing an additional 150,254 shares in the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of Alpha and Omega Semiconductor by 743.8% in the fourth quarter. Trexquant Investment LP now owns 151,630 shares of the semiconductor company's stock valued at $3,004,000 after purchasing an additional 133,661 shares in the last quarter. Institutional investors and hedge funds own 78.97% of the company's stock.

Alpha and Omega Semiconductor Stock Performance

Shares of NASDAQ AOSL opened at $24.66 on Tuesday. Alpha and Omega Semiconductor Limited has a 1 year low of $17.01 and a 1 year high of $54.34. The firm's 50 day moving average price is $33.67 and its 200 day moving average price is $33.00. The firm has a market cap of $746.21 million, a P/E ratio of -17.49 and a beta of 2.60.

Alpha and Omega Semiconductor (NASDAQ:AOSL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.11. Alpha and Omega Semiconductor had a negative return on equity of 4.88% and a negative net margin of 6.23%.The company had revenue of $170.37 million during the quarter, compared to the consensus estimate of $168.00 million. During the same period in the previous year, the firm posted $0.02 EPS. Alpha and Omega Semiconductor's revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that Alpha and Omega Semiconductor Limited will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, EVP Bing Xue sold 4,916 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $47.09, for a total transaction of $231,494.44. Following the completion of the transaction, the executive vice president owned 123,660 shares of the company's stock, valued at $5,823,149.40. This represents a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AOSL shares. Stifel Nicolaus raised their price objective on shares of Alpha and Omega Semiconductor from $36.00 to $42.00 and gave the stock a "hold" rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha and Omega Semiconductor in a research note on Friday, July 17th. Needham & Company LLC lowered their target price on Alpha and Omega Semiconductor from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. B. Riley Financial dropped their price target on Alpha and Omega Semiconductor from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, August 13th. Finally, Lake Street Capital started coverage on Alpha and Omega Semiconductor in a report on Thursday, June 25th. They issued a "buy" rating and a $58.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alpha and Omega Semiconductor presently has a consensus rating of "Hold" and a consensus target price of $41.50.

Alpha and Omega Semiconductor Company Profile

Alpha and Omega Semiconductor Limited NASDAQ: AOSL is a designer and supplier of power semiconductor components used in power management applications across a range of electronic systems. The company offers a broad portfolio of discrete and integrated power devices, including power MOSFETs, rectifiers, voltage regulators, and power management ICs. These products are optimized for high efficiency, compact form factors and thermal performance, catering to the growing demands of energy-sensitive applications in computing, consumer electronics, communications and industrial markets.

Since its founding in 2000, Alpha and Omega Semiconductor has leveraged in-house design expertise and strategic partnerships with manufacturing facilities to deliver scalable, high-volume production.

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